UK Cities in Recovery: An Assessment of Growth Potential

UK Cities in Recovery: An Assessment of Growth Potential

March 2014

In this report we assess the growth potential of the UK's major cities, by analysing recent and future employment growth in the key sectors that form the majority of the occupier base of any city's office stock. This simple ranking exercise, also includes measures of wider local economic growth, skills levels and new business creation, allowing us to identify those locations with the greatest capacity for growth in office demand. Large and vibrant cities fare best in this analysis, particularly those with a more varied occupier base. These locations, which include the Thames Valley, Manchester, Cambridge, Birmingham and Leeds are expected to see the biggest increases in office-based employment and therefore demand for office space. Whilst these markets are expected to experience the greatest uplift in job numbers, all the cities within our analysis are forecast to see office-based employment growth, all of which will be provided by the private sector and therefore providing vital support to the UK cities as they recover.

Keywords: Market, Economy, Europe, United Kingdom, Recovery, Growth, GDP, Business, Office

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